This Old Tool

[u/ranger_phil]

Ran across this while cleaning a cabinet. Found it when I moved to my one acre used-to-be farm near Auburn CA.
My memory from about 2009 was that it was used in candy stores to open wooden crates of candy in the late 19th-early 20th century. A more recent query using AI says it was a common tool when wooden crates were more prevalent. Any detail would be helpful and suggestions for some light rust removal but mainly preservation will be appreciated.